Capital gain

This query is : Resolved

Snehal Tayshete (Querist)
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26 December 2014 Sir,

In 1992 Property purchased in 1992 by father in law den by inheritance trf to husband(son) and wife in 2010 den in 2013 husband died den to wife in 2013 so how to do capital gain working.in 2013 which year indexation will be taken.?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 December 2014 Indexation to be calculated from 1992.

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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26 December 2014 Dear Snehal, as per section 47 capital asset received under gift, will or impenitence are not regarded as transfer under section 47

Further,under section 49(1) cost of acquisition for the transaction refereed to section 47 also include cost to previous owner.

Further Also, as per section 2(42A) period of holding referred to section 47 also include holding of previous owner also.

Therefore, You Need calculate indexed cost of acquisition from 1992

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